NetSuite OneWorld Global Business Management System

Q: What is NetSuite Global Business Management?

Used in over 219 countries and dependent territories, NetSuite OneWorld enables companies to manage multiple subsidiaries, business units and legal entities from a single ERP. Support for 27 languages and 190 currencies makes it easy to work with customers and suppliers around the world, while country-specific configurations help ensure compliance with local accounting, tax and regulatory requirements. Get real-time visibility into operational and financial performance while standardising core processes, managing risk and controlling costs at all levels of the organisation.

Manage your global business on a single, AI-powered ERP solution

What is NetSuite Global Business Management?

With NetSuite OneWorld, companies can manage multiple subsidiaries, business units and legal entities from a single, AI-powered ERP. With users in countries and dependent territories, OneWorld is a truly global solution

What is NetSuite OneWorld? (Video)

Financial and Operational Efficiencies

Manage multiple subsidiaries, business units and legal entities from one solution. When the entire organisation uses the same system, metrics and processes, people are more productive, your business runs more smoothly and performance improves.

Ensure Compliance

Built to support both global standards and country-specific audit, tax and data security requirements, NetSuite OneWorld eases compliance with complex, ever-changing rules and regulations.

Business Performance Insights

Automatic currency conversions and financial consolidation provide a real-time view of business performance, whenever and wherever you need insights to inform decisions.

NetSuite OneWorld gives us a way to deliver a standard platform across the organization that supports our continued growth and development.

Jollibee Foods

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NetSuite Global Business Management Benefits

Standardise Processes. Ensure consistency across the organisation by standardising core business processes and workflows.
Improved Reporting. Real-time consolidation at local, regional and global levels improves the timeliness and accuracy of financial statements.
Simplified Administration. Eliminate the cost and complexity of supporting multiple ERP systems in different locations, with different data formats and inconsistent data standards.

NetSuite Global Business Management Features

NetSuite OneWorld helps companies manage global operations, including multiple currencies, taxation rules and reporting requirements, across geographies and subsidiaries while providing real-time financial consolidation and visibility.

Multi-Currency

NetSuite currency management supports more than 190 currencies and exchange rates and a wide variety of payment options, enabling you to do business with customers and suppliers globally. Real-time currency conversion and financial consolidation support global operations. With NetSuite, international businesses gain broad insights by restating currencies and consolidating financial reporting across business units.

Multi-Language

Translated in 27 languages, including Chinese, Japanese, French, German and many more, NetSuite’s multi-language user interface helps bridge communication barriers and provides a flexible hierarchy that allows businesses to run their entire entity structures with ease.

Global Accounting and Consolidation

Multi-book accounting enables the use of multiple sets of books to accommodate differences in accounting and financial reporting requirements at local, regional and headquarters level. Because individual transactions can be posted to multiple books simultaneously, they’re recorded correctly under all applicable accounting standards.

Consolidated Financial Statements

OneWorld automatically posts each transaction at the local and headquarters level, simplifying the process of generating consolidated financial statements. NetSuite's unified platform and multi-entity capabilities support a standardised general ledger structure at the corporate or headquarters level while giving regional business units or subsidiaries the flexibility to create custom charts of accounts. Transactions recorded at the local level are automatically mapped and posted to the parent account in the correct currency and at the appropriate exchange rate.

Indirect Tax Management

NetSuite's configurable tax engine, SuiteTax, provides global tax management through a simple, easy-to-use system that automates the entire tax compliance process, saving time, reducing errors and minimising costs. With preconfigured tax codes and localised reporting for more than 110 countries, NetSuite provides detailed, real-time analysis of financial transactions down to individual line-item tax details. Calculate taxes in real-time on sales and purchase transactions, including cross-border sales, and adhere to Intrastat reporting obligations between EU countries. The ability to file reports electronically makes the installation of stand-alone tax engines unnecessary for many businesses.

Audit and Compliance Reporting

NetSuite’s Governance, Risk and Compliance (GRC) solutions help ensure compliance with international IT and security standards. An always-on audit trail, built-in analytics, access logs and automated workflows streamline documentation and reporting of systems, resources, risks and controls. NetSuite simplifies Sarbanes-Oxley (SOX) and similar compliance obligations by supporting standardisation and consistent reporting across your entire organisation. Full drill-downs, from summary reports to underlying transaction details, provide transparency and demonstrate on-going compliance with local statutory and regulatory requirements.

Electronic Payments

NetSuite Electronic Payments enables you to pay vendor bills and employee expenses across the globe directly from NetSuite, as well as take payments directly from customers. Automated processing puts payments or direct debits into each bank's predefined file format, ready to import into banking software or submit to the bank online. That lowers payment processing expenses by eliminating checks, postage and envelopes and saves time, too.

Challenges NetSuite Global Business Management Solves

Meeting Global Regulatory Requirements. Manage global operations and comply with local tax regulations, multiple accounting standards and complex reporting requirements wherever you do business.
Managing Currency Fluctuations. Automatically post international transactions in both the local and standard currencies in real-time at the correct rate.
Difficulty Closing the Books. Transactions automatically post at both the subsidiary and headquarters levels, accelerating the close process and simplifying consolidations.

84%

of surveyed NetSuite OneWorld customers saved 5-8 hours on intercompany netting and eliminations per month.

100%

of surveyed NetSuite OneWorld customers confirmed that they have saved more than 6 days per month producing consolidated financials.

63%

of surveyed customers said since using NetSuite OneWorld they’ve benefited from time saved producing consolidated financial statements.

Source: TechValidate

Faster Time to Value

NetSuite has packaged the experience gained from tens of thousands of worldwide deployments over two decades into a set of leading practices. These practices pave a clear path to success and are proven to deliver rapid business value and get you live on NetSuite in a predictable timeframe. Intelligent, stepped implementations begin with sales and span the entire customer lifecycle, so there’s continuity from sales to services to support.

How Much Does NetSuite Global Business Management Cost?

Companies of every size, from pre-revenue startups to fast-growing businesses, have made the move to NetSuite. Looking for a better way to run your business but wondering about the cost?

Users subscribe to NetSuite for an annual licence fee. Your licence is made up of three main components: core platform, optional modules and number of users. There is also a one-time implementation fee for initial set up. As your business grows, you can easily activate new modules and add users — that’s the beauty of cloud software.

Some global business management capabilities are included with the NetSuite platform licence. Additional functionality is available with NetSuite OneWorld.

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